NYSE$LII
Lennox International Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Lennox reported record second-quarter results and raised 2023 guidance.
Lennox reported a record second quarter with revenue up 3% to $1.41 billion and operating income up 23% to $279 million. GAAP diluted EPS increased by 23% to $6.10. The company is raising its 2023 outlook with core revenue expected to increase by 2% to 4% and an EPS range of $15.50 to $16.00.
- Revenue increased by 3% to $1.41 billion; core revenue excluding European Operations increased by 3% to $1.34 billion.
- Operating income increased by 23% to $279 million; adjusted segment profit increased by 22% to $281 million.
- GAAP diluted EPS increased by 23% to $6.10; adjusted diluted EPS increased by 22% to $6.15.
- Operating cash flow increased by 101% to $196 million.
Headline financials
Revenue & EPS history
Lennox · Revenue · Quarterly
$1.41B
Revenue by segment
Lennox · $990M total across 2 segments · Q1 2023
- Home Comfort Solutions$681M-0.2%68.8%
- Building Climate Solutions$309M+64.6%31.2%
Forward guidance
For the full year 2023, Lennox expects core revenue to be up 2% to 4% and earnings per share of $15.50 to $16.00. The company is updating its free cash flow outlook to include operating cash flow of $550 million to $600 million and capital expenditures of approximately $250 million.
Tailwinds
- Prioritizing pricing excellence
- Increasing commercial production output
- Normalizing inventory levels to further improve cash flow
- Building on current momentum to meet or exceed long-range targets
- Exceptional progress towards delivering long-term financial targets
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
-0.3%
Avg return
Earnings day
-0.1%
Avg return
5 days after
+3.3%
Avg return
30 days after
49%
33 / 68 earnings
Positive
+13.4%
Q3 2014
Best reaction
-12.9%
Q2 2011
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.6% | +3.9% | +1.2% | |
| Q4 2025 | -4.0% | -0.7% | +14.3% | |
| Q3 2025 | -9.8% | -8.5% | -15.3% | |
| Q1 2025 | -9.0% | -5.0% | +1.5% | |
| Q4 2024 | -8.8% | -12.0% | -9.3% | |
| Q3 2024 | +4.4% | +3.1% | +10.7% | |
| Q2 2024 | -4.1% | +0.1% | +2.6% | |
| Q1 2024 | -0.2% | +0.1% | +5.6% | |
| Q4 2023 | -5.2% | -5.6% | +5.6% | |
| Q3 2023 | +5.7% | +9.2% | +22.7% | |
| Q2 2023 | +8.1% | +11.6% | +7.4% | |
| Q1 2023 | +9.7% | +9.5% | +9.1% | |
| Q4 2022 | +9.4% | +12.1% | +4.2% | |
| Q3 2022 | +1.4% | +0.2% | +14.2% | |
| Q2 2022 | +5.5% | +5.4% | +6.9% | |
| Q1 2022 | -9.2% | -13.6% | -16.8% | |
| Q4 2021 | -4.0% | -5.9% | -3.5% | |
| Q3 2021 | -3.0% | -4.1% | +2.1% | |
| Q2 2021 | +3.6% | +2.8% | +3.4% | |
| Q1 2021 | +1.4% | +0.3% | +3.6% | |
| Q4 2020 | -4.3% | -3.1% | -1.7% | |
| Q3 2020 | -1.5% | -0.0% | +2.8% | |
| Q2 2020 | +2.5% | +7.2% | +12.9% | |
| Q1 2020 | -5.9% | -4.0% | +4.4% | |
| Q4 2019 | +3.8% | +0.7% | +9.4% | |
| Q3 2019 | -2.3% | -4.0% | +0.8% | |
| Q2 2019 | -5.2% | -5.7% | -6.3% | |
| Q1 2019 | -2.2% | +0.3% | +2.6% | |
| Q4 2018 | +1.1% | +0.3% | +5.0% | |
| Q3 2018 | +2.2% | +3.1% | +10.7% | |
| Q2 2018 | -3.2% | -2.4% | +3.0% | |
| Q1 2018 | -4.0% | +0.6% | +4.4% | |
| Q4 2017 | +2.5% | +1.1% | +5.1% | |
| Q3 2017 | +9.0% | +7.2% | +8.8% | |
| Q2 2017 | -5.7% | -6.2% | -10.4% | |
| Q1 2017 | -2.1% | -4.1% | +1.8% | |
| Q4 2016 | +3.8% | +3.7% | +5.8% | |
| Q3 2016 | -3.7% | -4.8% | -4.4% | |
| Q2 2016 | +2.0% | +2.4% | +5.6% | |
| Q1 2016 | -1.2% | — | — | |
| Q4 2015 | -0.3% | — | — | |
| Q3 2015 | +5.4% | — | — | |
| Q2 2015 | +7.5% | — | — | |
| Q1 2015 | -5.2% | — | — | |
| Q4 2014 | +2.8% | — | — | |
| Q3 2014 | +13.4% | — | — | |
| Q2 2014 | +2.3% | — | — | |
| Q1 2014 | -4.2% | — | — | |
| Q4 2013 | +1.4% | — | — | |
| Q3 2013 | +2.9% | — | — | |
| Q2 2013 | +4.7% | — | — | |
| Q1 2013 | +0.0% | — | — | |
| Q4 2012 | +1.3% | — | — | |
| Q3 2012 | +2.4% | — | — | |
| Q2 2012 | -9.3% | — | — | |
| Q1 2012 | +10.5% | — | — | |
| Q4 2011 | +2.7% | — | — | |
| Q4 2008 | +2.7% | — | — | |
| Q3 2011 | +9.6% | — | — | |
| Q2 2011 | -12.9% | — | — | |
| Q1 2010 | -7.7% | — | — | |
| Q1 2011 | +2.0% | — | — | |
| Q4 2010 | -2.3% | — | — | |
| Q3 2009 | -5.5% | — | — | |
| Q3 2010 | -5.5% | — | — | |
| Q4 2009 | -6.3% | — | — | |
| Q2 2010 | -6.3% | — | — | |
| Q2 2009 | -6.3% | — | — |
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